MORRISVILLE, N.C., Jan. 05, 2018 (GLOBE NEWSWIRE) -- Novan, Inc. ("the Company" or "Novan") (NASDAQ:NOVN) today announced the pricing of the Company's underwritten offering of 10 million shares of its common stock and accompanying warrants to purchase up to 10 million shares of common stock with an exercise price of $4.66. The shares and warrants are being sold at a public offering price of $3.80 per share and accompanying warrant. The gross proceeds from this offering to Novan are expected to be approximately $38.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Novan, and excluding the exercise of any warrants. The offering is expected to close on or about January 9, 2018, subject to customary closing conditions.
Piper Jaffray & Co. is acting as the sole manager for the offering.About Novan
Novan, Inc. is a clinical-stage biotechnology company focused on leveraging nitric oxide’s natural antiviral and immunomodulatory mechanisms of action to treat dermatological and oncovirus-mediated diseases. We believe that our ability to conveniently deploy nitric oxide in a solid form, on demand and in localized formulations allows us the potential to significantly improve patient outcomes in a variety of diseases.